Roblox Corporation $RBLX Stock Holdings Trimmed by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. trimmed its holdings in shares of Roblox Corporation (NYSE:RBLX - Free Report) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,768,781 shares of the company's stock after selling 400,478 shares during the quarter. Roblox accounts for about 2.6% of Amova Asset Management Americas Inc.'s portfolio, making the stock its 8th largest position. Amova Asset Management Americas Inc. owned approximately 0.42% of Roblox worth $224,271,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RBLX. Reyes Financial Architecture Inc. grew its stake in Roblox by 164.4% during the 4th quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company's stock worth $25,000 after buying an additional 194 shares during the last quarter. Fideuram Asset Management Ireland dac purchased a new position in Roblox during the 4th quarter worth $27,000. GW&K Investment Management LLC grew its stake in Roblox by 76.3% during the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company's stock worth $30,000 after buying an additional 161 shares during the last quarter. Indiana Trust & Investment Management Co purchased a new stake in Roblox during the 4th quarter valued at about $32,000. Finally, Garner Asset Management Corp purchased a new stake in Roblox during the 4th quarter valued at about $37,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Stock Performance

NYSE RBLX opened at $43.00 on Wednesday. The stock has a market capitalization of $28.88 billion, a price-to-earnings ratio of -27.21 and a beta of 1.44. Roblox Corporation has a twelve month low of $40.15 and a twelve month high of $150.59. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45. The stock has a 50-day moving average of $50.83 and a 200 day moving average of $66.39.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.06. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.74 billion. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.Roblox's quarterly revenue was up 43.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) EPS. Sell-side analysts anticipate that Roblox Corporation will post -1.4 EPS for the current fiscal year.

Roblox announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.

Key Stories Impacting Roblox

Here are the key news stories impacting Roblox this week:

• Positive Sentiment: Russia’s digital ministry moved to help lift the Roblox ban, potentially reopening access in a large market if the company meets local safety and compliance demands. Russian ministry requests lifting of Roblox ban
• Neutral Sentiment: Insider Mark Reinstra sold 5,978 shares under a pre-arranged 10b5-1 plan, which is worth watching but does not necessarily signal a change in fundamentals.
• Negative Sentiment: Multiple law firms, including Rosen, Pomerantz, Robbins, Faruqi & Faruqi, Levi & Korsinsky, and others, are promoting a securities class action against Roblox, keeping legal risk and headline pressure elevated. Rosen Law Firm Urges Roblox Corporation NYSE: RBLX Stockholders with Large Losses to Contact the Firm for Information About Their Rights

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RBLX. UBS Group dropped their price target on Roblox from $74.00 to $49.00 and set a "neutral" rating on the stock in a research note on Friday, May 1st. Canaccord Genuity Group dropped their price target on Roblox from $140.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Weiss Ratings reiterated a "sell (e+)" rating on shares of Roblox in a research note on Friday, March 27th. Citigroup dropped their price target on Roblox from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Monday, May 4th. Finally, Jefferies Financial Group downgraded Roblox from a "hold" rating to a "hold" rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Roblox currently has a consensus rating of "Hold" and an average target price of $87.07.

Insider Buying and Selling at Roblox

In other Roblox news, CFO Naveen K. Chopra sold 16,863 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total transaction of $763,556.64. Following the completion of the transaction, the chief financial officer owned 380,758 shares of the company's stock, valued at $17,240,722.24. This represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David Baszucki sold 50,628 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total value of $2,292,435.84. Following the transaction, the chief executive officer directly owned 852,214 shares of the company's stock, valued at $38,588,249.92. The trade was a 5.61% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 189,449 shares of company stock valued at $9,179,410. 10.05% of the stock is owned by insiders.

Roblox Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company's building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox's business model is built around its virtual economy and creator ecosystem.

Want to see what other hedge funds are holding RBLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roblox Corporation (NYSE:RBLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.